Graincorp (GNC)

Morningstar has kept its hold on GrainCorp with a fair value estimate of $9 per share after US agricultural giant Archer Daniels Midland’s takeover offer. The research house said the strategic nature of GrainCorp’s semi-monopoly port, storage and grain handling assets could spark a bidding war. Morningstar is forecasting net profit of $198.8 million in 2012 and $190.5 million in 2013.